Wednesday saw a poor day of trading for the media sector, which followed the FTSE down past the 3,900 after a awful day of trading on Wall Street. Analysts now believe the threat of a US lead military strike against Iraq in the new year had increased, this news was seen weighing heavily on sentiment.
On the corporate news-front, SMG was in focus Scotsman publisher, Andrew Neil, has today supported claims that the group has reopened talks over the sale of its Herald titles. The stock was seen falling -1.02%.
Elsewhere investors were seen digesting news from United Business Media, which has said that it is on target to match second half revenue expectations as a result of “generally robust trading” in its UK, European and Asian businesses (see UBM Buoyed By ‘Robust’ Trading Conditions).
The closing prices of media company shares on Wednesday were:
